Procedure for FCTRS
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Sakina Rassawala
Jan 20, 2011, 5:53:02 AM1/20/11
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Dear Friends,
Can somebody please provide me a step by step procedure of FCTRS. Thank you.
Regards.
R V SECKAR
Jan 20, 2011, 6:02:01 AM1/20/11
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Hello,
1. Immediately within 30 days on receipt of funds , Report to RBI through your Authorized Dealer ( banker ) through the prescribed form about the receipt of the funds along with the FIRC issued by your banker.
2. Within 180 days ( 6 months ) make allotment and file the FC-TRS along with the Company Secretary certificate , Valuation certificate under DCF valuation method and FIRC through your Authorised dealer.
Regards
R.V.Seckar
Pl do visit my blogs :http://rvsekar.blogspot.com/
http://rvseckarfema.blogspot.com/
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1. Immediately within 30 days on receipt of funds , Report to RBI through your Authorized Dealer ( banker ) through the prescribed form about the receipt of the funds along with the FIRC issued by your banker.
2. Within 180 days ( 6 months ) make allotment and file the FC-TRS along with the Company Secretary certificate , Valuation certificate under DCF valuation method and FIRC through your Authorised dealer.
Regards
R.V.Seckar
Pl do visit my blogs :http://rvsekar.blogspot.com/
http://rvseckarfema.blogspot.com/
Jayashree Chandrasekaran
Jan 20, 2011, 6:09:54 AM1/20/11
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Dear Seckar,
I think you have written FCGPR procedure...FCTRS is for transfer of shares...
Jayashree
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R V SECKAR
Jan 20, 2011, 6:16:49 AM1/20/11
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Hello,
Sorry . Mrs Jeyashree , you are correct. Due to oversight , I have given about FCGPR instead of FC-TRS.
For detailed procedure , please read my write up in my blog
http://rvseckarfema.blogspot.com/ titled " formalities for transferring shares held by foreign investor to an Indian buyer and vice-versa .
The link is http://rvseckarfema.blogspot.com/search?updated-max=2010-10-11T03%3A58%3A00-07%3A00&max-results=7
Regards
Sorry . Mrs Jeyashree , you are correct. Due to oversight , I have given about FCGPR instead of FC-TRS.
For detailed procedure , please read my write up in my blog
http://rvseckarfema.blogspot.com/ titled " formalities for transferring shares held by foreign investor to an Indian buyer and vice-versa .
The link is http://rvseckarfema.blogspot.com/search?updated-max=2010-10-11T03%3A58%3A00-07%3A00&max-results=7
Regards
Sakina Rassawala
Jan 20, 2011, 7:14:50 AM1/20/11
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Dear Mr. Seckar,
Could you please elaborate the procedure for FCTRS. Nowhere I could find the same in the blog.
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R V SECKAR
Jan 20, 2011, 7:26:06 AM1/20/11
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Dear Sakina,
Please go through the following link . You will have idea about FC-TRS. Form FCTRS has to be submitted to RBI through your authorised agent ( banker) with in sixty days of remittance of funds or receipt of funds for the share transfer between a resident and non-resident and vice-versa.
http://rbidocs.rbi.org.in/rdocs/notification/PDFs/DFCTRS630409.pdf
Please go through the following link . You will have idea about FC-TRS. Form FCTRS has to be submitted to RBI through your authorised agent ( banker) with in sixty days of remittance of funds or receipt of funds for the share transfer between a resident and non-resident and vice-versa.
http://rbidocs.rbi.org.in/rdocs/notification/PDFs/DFCTRS630409.pdf
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